OK, so by now everyone knows Steemit will soon surpass Facebook as the number on social media network. But before that happens, lets take a look at how much Facebook should have paid you so far, and should be paying you right now. My understanding of the Steemit model is that users own a part of the market cap and are paid out of the company's earnings in proportion to their engagement and Steem investment.
So I applied that model to Facebook and ran some numbers. If you are a monthly user, in other words you use Facebook a couple of times per month, you have a stake in the company that is worth around $225.46. That is equivalent to about one-and-a-half shares (the share price now hovers at around $150) If you are a daily user, Facebook owes you closer to $339.95 once-off, which is the equivalent of more than two shares in the company. The income numbers were less impressive. But the conservative calculation results in $6.33 per year for the average monthly user, and $9.55 for the average daily user.
There is, however, a key factor here that in my opinion brings down the numbers considerably. If you are a Steemit user, the same level of engagement that you exercise on Steemit, if you were to engage that way on Facebook, would probably rank you in the top 20% of daily users in terms of sharing and posting content, likes, etc. Now, using the 80/20 principle, that means the top 20% of Facebook users are indirectly (or directly) responsible for 80% of the market cap or net income of the company. With this more realistic calculation, the numbers look pretty impressive at $1 359.78 and $38.18 per year in income.
So, a rough calculation would be a solid justification of why Facebook don't really need to pay users anything because the numbers are so small (except maybe for the market cap one), but a realistic calculation results in some pretty significant amounts. Remember these are the averages so some people are probably owed 100 times this amount, at least! That is $135 978 once off (equal to almost 1000 shares) and $3 818 per year. Most people could retire right now with that kind of money!
The things I looked at are as follows:
FB current market cap: $436.49 billion
FB Net Income for 2013: $1.49 billion, monthly active users 1.155 billion, daily active users 699 million
FB Net Income 2014: $2.93 billion, monthly active users 1.317 billion, daily active users 829 million
FB Net Income 2015: $3.67 billion, monthly active users 1.49 billion, daily active users 968 million
FB Net Income 2016: $10.19 billion, monthly active users 1.712 billion, daily active users 1.128 billion
FB Net Income for 1st quarter of 2017: $3.064 billion, monthly active users 1.936 billion, daily active users 1.284 billion
MY SOURCES WERE:
https://ycharts.com/companies/FB/market_cap
http://www.marketwatch.com/investing/stock/fb/financials
https://www.statista.com/statistics/264810/number-of-monthly-active-facebook-users-worldwide/
https://www.statista.com/statistics/346167/facebook-global-dau
E-mail me at pjcillie at transkaroocommunications dot com to see all the calculations in Excel.
Very interesting facts and figures @pjcswart well done. The future looks great here as Steemit. :)
I agree! Thanks for the upvote, much appreciated. The Steemit cryptocurrency seems to be going up pretty fast too.
I agree it could be the way of the future, but they do need to sort out all the spamming.
Don't you think so, @kr-panda?
Where there is money to be made, there is spam to be dealt with.
I just did my intro post and notice people copying/pasting the same comment onto all intros, of course they ask for a follow.. 😇
everyone wants free chedda!
Thanks for the comment. Where in New Zealand are you from?
Are you getting a lot of spam? Why did you join steemit, just curious?
It would be awesome if steemit gain mass adoption. I mean steemit is exactly just like social media. But paid. People should start to immerse into it!
Thanks for the comment, where are you from?
@sdtraan can I ask you a huge personal favour?
What is it?
Who do you know right now that really needs to make some extra money?
That's a really cool breakdown man I was wondering this myself. I made a post talking about how the user experience would change once facebook and reddit users made the switch. Both in terms of the content thats being made but also what will happen when large social media personalities make the switch. Give it a read here if your interested.
Keep up the good posts anyway man, all the best.
Thanks for commenting. I am also curious how things will change over time... what do you do for a living?
I'm a personal trainer from Australia!
Cool where in Australia do you live?
What do you think about Zuckerberg 2020?
Yes, Steemit has all the ingredients of a Facebook closer. I'm all in to close the final chapter in Fakebook. Steem-on !
What do you do in Thailand? Thanks for the comment!
Cool, makes sense.
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Thanks, where are you from?